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Placer County board votes to raise first‑time homebuyer down‑payment assistance cap
Summary
Supervisors approved an increase to the county’s first‑time homebuyer down‑payment assistance program, citing restricted state grants and program income and a plan to raise assistance to help lower monthly mortgage payments for 80% AMI households.
The Placer County Board of Supervisors on Feb. 17 approved an increase to the first‑time homebuyer down‑payment assistance program after staff explained the request and funding sources.
Staff said the program is funded by restricted state housing and community development grants and program income, citing three grants and approximately $800,000 combined for certain accounts and a total program portfolio of about $2.6 million. Staff said the program targets households…
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